Appraisal Question

[wwe]

This is for all you e-ring consumers:

Did you guys have it re-appraised by an individual appraiser after you received the ring. Alot of online vendors send appraisal papers with the diamond/ring but wanted to know if you get it re-appraised just to be 100% sure.


Thanks!

 

[kcoursolle]

For my e-ring I did all of this. I was new to the diamond buying process and wanted the peace of mind. I bought my stone at jamesallen and took it to the indep. appraiser after purchase and after having it set for an updated appraisal. For my wedding band that I purchased at whiteflash, I felt comfortable enough with the process that I didn''t take it in and just had it insured with the existing WF paperwork.

 

[wwe]

I bought my ring from James Allen also. Did your ring from James Allen appraise for more, less?

 

[kellyfish]

I just sent my ring to an ind. appraiser today. My stone is ungraded--so I obviously need it done. It will be interesting to see what happens!

 

[wwe]

Where did you buy it from?

Keep us updated.

 

[avlis]

i sent my loose diamond to an indy appraiser, and the had the completed ring sent back as well.

 

[kohdy]

I am getting my ring appraised with an independent appraiser once I get it back from BB&B. I am resetting my stone in Ritani endless love, and apparently it is taking a very long time... It was ordered on March 9, and I am still waiting!!! I trust both BB&B and Ritani but I am getting the appraisal done for a piece of mind and also for insurance!

 

[kcoursolle]

Date: 4/9/2007 3:37:14 PM
Author: wwe
I bought my ring from James Allen also. Did your ring from James Allen appraise for more, less?

It appraised for more...and this is typical. I wouldn''t worry about the dollar amount either way because jamesallen''s prices are reasonable.

 

[Psoasmajorman]

Long time lurker...my first post on PriceScope.

I recently purchased a three stone ring from Blue Nile. In spite of the appraisal that came with the purchase I opted to have the ring appraised by an independent third party that I found on this website.

I''m glad I did it, and I''d encourage others to do the same. The retail value was slightly less than the ''in-house'' appraisal, yet it was still significantly higher than the purchase price. Additionally, the appraiser confirmed the certification numbers on the diamonds as well as the color and clarity. In essence, he confirmed they were indeed the diamonds I''d purchased, and that the certifications were accurate.

Sounds redundant, but it was well worth the $75 fee.

 

[Regular Guy]

Date: 4/9/2007 10:25:24 PM
Author: Psoasmajorman
Long time lurker...my first post on PriceScope.

I recently purchased a three stone ring from Blue Nile. In spite of the appraisal that came with the purchase I opted to have the ring appraised by an independent third party that I found on this website.

I''m glad I did it, and I''d encourage others to do the same. The retail value was slightly less than the ''in-house'' appraisal, yet it was still significantly higher than the purchase price. Additionally, the appraiser confirmed the certification numbers on the diamonds as well as the color and clarity. In essence, he confirmed they were indeed the diamonds I''d purchased, and that the certifications were accurate.

Sounds redundant, but it was well worth the $75 fee.

I got much the same result, did use James Allen (then DCD), and paid a good bit more for the appraisal.

At least 2 reasons to do this:

1) at least depending on the difference in appraisal amount, the difference in your insurance premium may help pay for this, and work to defray the cost of the appraisal, and also,

2) independent of examining the diamond, the appraiser can review the workmanship of putting the diamond together with the ring, and can advise if any adjustments need to be made, which can be helpful, in and of itself.

 

[wwe]

So if worst comes to worst amd the independent appraiser appraises it for less would you return it depending on the price difference?

 

[RockDoc]

Date: 4/10/2007 9:22:56 AM
Author: wwe
So if worst comes to worst amd the independent appraiser appraises it for less would you return it depending on the price difference?

Depends!

There is a link to an article I wrote called Rockdoc''s Secrets to Price Negotiation. Type that in the search bar and then consider the alternative. If the stone is properly represented, and you''re "in love" with it, if the appraiser comes in with a lower value, this COULD be an indication that you may want to negotiate the price with the seller, or maybe find a different stone. If you present a well based objection to the sales price being asked, the seller MAY adjust the price accordingly.

The points inportant from your appraiser in his report, need to cover several important factors:

1. Is the grading and representation of the diamond accurate
2. Is it priced competitively

and MOST IMPORTANTLY

3. IS IT THE STONE YOU REALLY WANT.


Valuation by appraisers can vary, based on the the value conclusions made are. Some appraisers will value an item for replacement as higher, sometimes for valid reasons. The value for insuring it and the way the value conclusion is made may be very different from what you should pay for it. One reason, simply expressed here, is that the value for a buyer of a stone, is not a "required" type sale. You don''t HAVE TO PURCHASE IT. In an insurance replacement, an insurance company HAS TO REPLACE IT, with some time constraints. It MAY cost an insurance company to pay somewhat more if they NEED the stone so it is sort of a "forced sale" approach. The factor most considered in this is how available is the quality, weight and grading is. Certain size and quality stones are less available in the market than others. If this is part of the appraiser''s consideration in making a report for value, it should be explained narratively in the appraisal report.

Be aware that FEW appraisers do this. So in the event the value is greatly different from the sales price, ask WHY.

Appraise the Appraiser!

Rockdoc

 

[Regular Guy]

Date: 4/9/2007 10:25:24 PM
Author: Psoasmajorman
The retail value was slightly less than the ''in-house'' appraisal, yet it was still significantly higher than the purchase price.

Wwe,

Read this carefully. The likelihood that a purchase from James Allen will result in an appraisal valued at less than you paid is very small, in my opinion. So, Rock Doc''s theoretical, and your concerns can be held at bay, I think. If the unexpected happens, and it values lower than you paid...I''d say...yes, return it, generally. I doubt this will happen.

 

[RockDoc]

Date: 4/10/2007 12:43:51 PM
Author: Regular Guy

Date: 4/9/2007 10:25:24 PM
Author: Psoasmajorman
The retail value was slightly less than the ''in-house'' appraisal, yet it was still significantly higher than the purchase price.

Wwe,

Read this carefully. The likelihood that a purchase from James Allen will result in an appraisal valued at less than you paid is very small, in my opinion. So, Rock Doc''s theoretical, and your concerns can be held at bay, I think. If the unexpected happens, and it values lower than you paid...I''d say...yes, return it, generally. I doubt this will happen.

Hi Ira...

I''d agree with you about the practical side if the value would come back lower... Most consumers would of course see that as a significant "red light".

However, if the value was significantly more, that COULD be a significant red light too.

James Allen generally prices stones very competitively, so I''d think the valuation would most commonly not come in lower than the purchase price, but guess we''ll have to stay tuned to see what actually does happen, and evaluate the report after knowing the result.

Rockdoc

 

[wwe]

Since you guys have obviously more knowledge than me regarding this topic, off the top of your head, and I know these are really general specs ( i do not have any other specs like pavillion angles, etc) is this a good price for this stone IN YOUR OPINION?

Price : $6700
Shape: Princess
Carat weight: 1.13
Cut: Ideal
Color: D
Clarity: VS1
Certificate: GIA

Depth: 69%
Table: 65%
Polish: Very Good
Symmetry: Good
Girdle: Thin to slightly thick
Culet: None
Fluorescence: Faint
Measurements: 5.85*5.78*3.99
Ratio: 1.01